Question: Consider the following statement regarding Sashakt India:
- Sashakt India was recommended by Sunil Mehta Committee.
- Sashakt India is meant for combating large NPAs.
Choose the correct options from the following:
(c)1 and 2 both
(d)Neither 1 nor 2
- Sunil Mehta, the Chairman of a Banker’s Panel, said an ‘asset management company’ (AMC) for resolving large bad loans has been formed and will be called as Sashakt India Asset Management.
- With an aim to resolve the problem of stressed assets with public sector banks, the government has come up with a new plan –Sashakt- which includes creation of one or more widely held asset management companies for loans above Rs. 500 crore. The Government had formed a panel led by Sunil Mehta, the Non-executive Chairman of Punjab National bank.
- He indicated that identifying potential investors for Alternate Investment Fund (AIF) which will fund the AMC. The committee is engaged with private sector banks to become the potential investors.
- The Mehta committee comprises representatives of all major banks, including State Bank of India.
By Ramayan Upadhyay